James Gorman

Morgan Stanley just surpassed Goldman in market value for the first time in 10 yearsMorgan Stanley on Monday has surpassed Goldman Sachs in terms of market value for the first time in about decade, according to FactSet data. Morgan Stanley presently boasts a market capitalization of about $86.57 billion, compared with a Goldman Sachs Group Inc. at $86.08 billion, as of Monday afternoon trading. Morgan Stanley's shares have rallied 7% over the past 30 days, while Goldman's shares have advanced a mere 0.6%, and recently--including Monday's action--has been on a decided downtrend, falling 1.5% in July, compared with a roughly 5% climb for Morgan Stanley over the same period. A standout round of second-quarter trading helped Morgan Stanley's CEO James Gorman to a $1.76 billion profit as its Wall Street rival Goldman stumbled in trading for the second straight quarter, posting a 40% drop in its bread-and-butter fixed-income, currencies, and commodities business. Beyond trading, Gorman also has bet the bank's fortunes on asset management over volatile trading. Goldman's recent stumbles have sparked questions about the leadership of its longstanding CEO Lloyd Blankfein. On Monday, Goldman was one of the weaker performers, on the Dow Jones Industrial Average , down 0.7%, which came as the broader banking sector, as gauged by the bank-focused Financial Select Sector SPDR ETF enjoyed one of its best daily climbs since July 13. Strength in financial shares was one of the bright spots in the S&P 500 index , which was under pressure in afternoon trade. The last time Morgan Stanley had a bigger market cap than Goldman Sachs was around June 2007, just as the financial crisis was unfurling.

Dow closes at a record, joins S&P 500, Nasdaq at all-time highsU.S. stock-market indexes closed firmly higher Wednesday, with all of the main equity benchmarks notching records, as buying appetite resumed on Wall Street. The Dow Jones Industrial Average closed up 0.3% higher at 21,640, as big gains in shares of Boeing Co. and UnitedHealth Group Inc. --bouncing back from Tuesday's selling--helped to more than offset a 4.2% tumble in shares of International Business Machines Corp. , which disappointed investors in second-quarter sales. IBM cut about 40 points from the price-weighted Dow, but the gauge still managed to finish squarely in the session green. The S&P 500 index rose 0.5% at 2,473, booking its own record, as did the Nasdaq Composite Index , which ended up 0.6% at 6,385. Small-capitalization stocks also joined the party, with the Russell 1000 and 2000 ending at all-time highs. Market sentiment was aided partially by an early climb in shares of Morgan Stanley , up 3.3%, after it reported earnings and revenue that topped expectations and bucked the trend of banks' shares sliding after releasing quarterly results. The investment bank run by CEO James Gorman helped to bolster investors' outlook for the remainder of earnings season, which thus far has helped to revive investor bullishness.

Morgan Stanley owns the quarter in trading, could see 10% upside, analyst says “Focus on the big picture,” CEO Gorman urges analystsMorgan Stanley was the only big bank to tick up after reporting earnings, which beat expectations, and fixed income trading results that were the best among its peers

Morgan Stanley shares tick up as firm beats on revenues, earnings Morgan Stanley on Wednesday reported net revenues of $9.5 billion in the second quarter, and earnings per share of 87 cents, compared with $8.9 billion and 75 cents per share in the year-ago quarter. That beat the FactSet consensus estimate of 76 cents per share, and $9.1 billion of revenue. Revenues from institutional securities, wealth management, and investment management were all higher than a year ago, despite what CEO James Gorman called a "subdued trading environment." Investment banking revenues were $1.4 billion compared to $1.1 billion a year ago, but sales and trading were $3.2 billion, versus $3.3 billion in 2016. The stock rose slightly in pre-market trading and is up 6.8% for the year to date, while the S&P 500 [s:SPX] is up 9.9%

Morgan Stanley's Earnings: Expect higher revenueMorgan Stanley is scheduled to report its second-quarter results before markets open Wednesday. Here's what you should watch: 1. Higher Revenue and Per-Share Earnings Analysts are projecting revenue to rise to $9.09 billion from $8.91 billion in the second quarter of last year. Net income per share is expected to rise by a penny to 76 cents.

Morgan Stanley trades its way past GoldmanMorgan Stanley said its quarterly earnings rose 70%, riding big boosts in its debt-trading and underwriting businesses to become the last of the big Wall Street banks to post strong numbers. Notably, the firm's results, especially in fixed-income trading, were far stronger than those of arch rival Goldman Sachs Group Inc.

Morgan Stanley's profit rises way above viewsMorgan Stanley said its quarterly earnings rose 70%, riding a big boost in its trading and underwriting businesses to become the last of the big Wall Street banks to post strong numbers. Shares climbed 2% premarket as earnings and revenue beat Wall Street estimates. The New York-based firm reported a profit of $1.93 billion, or $1 a share.

Morgan Stanley profit rises well above viewsMorgan Stanley said its quarterly earnings rose, the last of the big Wall Street banks to report numbers that were better than a year ago. The New York-based firm reported a profit of $1.93 billion, or $1 a share. That compares with the $1.13 billion, or 55 cents a share, it reported in the first quarter of 2016, which was a dismal one for big banks.

Top execs from Netflix, Apple, Starbucks and other companies decry Trump’s immigration ban Protesters were joined by company leaders across a wide range of sectorsOver the weekend, corporate America joined in protesting President Donald Trump’s immigration ban as masses around the country took to airports to demonstrate.

Custody firms back away from foreign business in a bid to reduce regulatory risk The move has hurt some independent investment advisers and brokers Raymond James, the Royal Bank of Canada and Fidelity Investments are among the companies tightening restrictions on independent U.S. investment advisers that focus on international clients as they seek to limit exposure to financial crime.

Morgan Stanley gives CEO raise, Goldman cuts backMorgan Stanley gave its chairman and CEO, James Gorman, a 7% raise for 2016, while Goldman Sachs Group Inc. cut stock awards for several executives but didn't disclose compensation for its top executive Lloyd Blankfein.

Morgan Stanley's brokers hit $1M revenue milestoneMorgan Stanley's brokers hit a productivity milestone -- more than $1 million in average revenue per broker -- and put themselves ahead of rival Merrill Lynch for the first time. In an analyst call to discuss the bank's fourth-quarter results, Morgan Stanley said its brokers on average generated $1.01 million in annual revenue during the period, up from $947,000 the year before.

Morgan Stanley profit and revenue tops estimatesMorgan Stanley posted its best fourth quarter since the financial crisis, handily beating analyst expectations as all of its major businesses generated higher revenue. The New York-based firm reported a profit of $1.67 billion, or 81 cents a share, in a quarter that included a surge of postelection trading activity.

Morgan Stanley toughens some broker pay hurdles Some Morgan Stanley brokers will see pay cuts next year unless they boost the fees and commissions they collect, a move that comes as part of the bank's broader efforts to rein in costs. Starting in January, Morgan Stanley will raise some compensation-grid thresholds it uses to pay brokers by about 10% to incentivize them to produce more revenue, a person with knowledge of the matter said.

Retirement newsThe AARP has filed a lawsuit alleging that the Equal Employment Opportunity Commission’s final wellness program rules under the Americans with Disabilities Act and the Genetic Information Nondiscrimination Act are arbitrary, capricious, an abuse of discretion, and not in accordance with law.

Morgan Stanley CEO: ‘There’s nothing good about Brexit’ James Gorman says his bank will need an EU HQ, staff will moveMorgan Stanley loves London life but Brexit could mean a new European HQ for the Wall Street titan.

Morgan Stanley profit boosted by trading revenueMorgan Stanley said its quarterly earnings rose 57%, beating expectations, as the smallest of the big Wall Street firm benefited from a trading rebound that has helped the country's largest banks. The New York-based firm reported a profit of $1.6 billion, or 81 cents a share. That compares with the $1.02 billion, or 48 cents a share, it reported in the same period last year.

Morgan Stanley profit boosted by trading revenueMorgan Stanley said its quarterly earnings rose, beating expectations, as the big Wall Street firm benefitted from a trading rebound that has helped the country's largest banks. The New York-based firm reported a profit of $1.6 billion, or 81 cents a share. That compares with the $1.02 billion, or 48 cents a share, it reported in the same period last year.

Morgan Stanley makes $100-million move on fintech startup Affirm Startup tripled its volume in the past year to hundreds of millions worth of loansStartup, founded by PayPay’s Max Levchin, says it has tripled its volume in the past year to hundreds of millions worth of loans.

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